QXO Inc. underperformed in Q2 2026, dropping 12.8% in July and 28.9% over the past year amid broader market gains.
QXO Inc. (QXO) closed at $15.32 on July 15, 2026, down 12.8% for the month and 28.9% over the past 52 weeks. The company, a distributor of roofing and building products, detracted from the Alger Capital Appreciation Fund’s performance in Q2 2026 despite the S&P 500 rising 15.2% in the quarter.
The broader market rally was driven by easing geopolitical tensions and technological advancements, particularly in Information Technology and Industrials. QXO’s underperformance contrasted with gains in sectors adopting AI and other growth areas, while Energy and Utilities also lagged due to falling oil and gas prices.
QXO’s market capitalization stood at $15.9 billion as of the July 15 close. The stock’s decline reflects ongoing challenges in the building products sector amid shifting market dynamics.